Rumors of OOCL Sale Intensify

Shipping analyst Alphaliner has voiced a rumor that has been circulating throughout the container shipping industry: that Orient Overseas International might sell its Hong Kong-based ocean carrier Orient Overseas Container Line (OOCL).

“As the merger and acquisition activity has swept the global container shipping industry, OOCL can be the next victim.”

Shares in Orient Overseas International have increased by over 20 percent at the Hong Kong stock market since the beginning of the year. Alphaliner says that China’ COSCO and Taiwan’s Evergreen are possible buyers of OOCL. However, neither company have officially expressed any interest yet.

OOCL is ranked as the fourth largest container carrier in Asia in terms of tonnage, following COSCO, Evergreen and Yang Ming Marine Transport, and as the ninth largest container carrier worldwide.

The rumors come as the industry suffers a global downturn. Analyst Dynamar notes that for the first time, as a group, the 25 largest container ship operators collectively posted a net loss in 2015.